Some Egyptian rebar producers have decided to decrease their local prices following the uptrend seen in late November as demand has not been good enough. However, key domestic steel producer Ezz Steel has not changed its rebar price so far.
According to sources, prices from some mills have decreased by EGP 200-225/mt or $12-14/mt. Garhy Steel has revised its rebar offers down to EGP 9,800/mt ($532/mt) ex-works, while El Marakby Steel has started to offer at EGP 9,775/mt ($530/mt) ex-works.
Ezz Steel’s offers for rebar for December production have stayed unchanged at EGP 10,570/mt ex-works.
Prices on US dollar basis exclude 14 percent VAT.
$1 = EGP 16.1713